All Pensions articles – Page 72
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ArticleAA to move final salary pension scheme members to Care arrangement
Motoring association AA will proceed with proposed changes to its defined benefit (DB) pension scheme, moving all members of its final salary pension plan to a career average revalued earnings (Care) arrangement.At present, the AA operates both a final salary section and a Care section within its DB pension scheme.The ...
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OpinionRosalind Connor: What the British Airways pensions case means for trustees and employers
The decision in the case of British Airways vs Airways Pension Scheme Trustee was handed down on 19 May 2017. The case, as the judge remarked, has been a lengthy one, and the appeal underway means that the case may well run for many more years. The case is the ...
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Supplier article
The results are in – pension polices stuck in limbo
The results for the UK general election have been announced. Despite failing to win a majority, the Conservatives have secured support from the Democratic Unionist Party (DUP) and will remain in power.This failure to win an overall majority has left many in the pensions industry stuck in limbo over future ...
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Case StudiesThe benefits offered by Moneypenny
The workplace benefits offered by Moneypenny include:PensionA stakeholder pension scheme with a 2% matched contribution from the employer.Healthcare and wellbeingHealth cash plan for all employees; employer-paid at basic level.Free breakfast.Free fruit.Free on-site exercise classes.Wellness bonus.Work-life balance25 days' holiday, increasing to 29 after four years’ service.Part-time work is available on a ...
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ArticlePoll: 15% are examining the General Data Protection Regulation’s impact on benefits
Employee Benefits poll: Less than one-fifth (15%) of employer respondents are currently looking at the impact of the General Data Protection Regulation (GDPR) on benefits and pensions.A poll of www.employeebenefits.co.uk readers, which received 39 responses, also found that 31% are examining their staff data protection policies in light of the ...
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AnalysisHow can benefits support age diversity in the workplace?
Need to knowAs the UK population ages, supporting older employees in the workplace will become a more prominent issue.A benefits strategy does not necessarily need to be age-specific, but can focus on an employee’s life stage to have a bigger impact.Benefits such as flexible working, health and wellbeing initiatives, and ...
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ArticleEXCLUSIVE: 84% offer salary sacrifice pension arrangements
EXCLUSIVE: More than three-quarters (84%) of employer respondents allow staff to contribute to their defined contribution (DC) pension through a salary sacrifice arrangement, according to research by Employee Benefits and Staffcare.The Employee Benefits/Staffcare Benefits research 2017, which surveyed 271 employer respondents in February-March 2017, also found that this is 10 ...
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Supplier article
Focus on retirement income matters: survey 2017
The pension changes revolutionised the world of retirement income and individuals now have greater control over their future plans – but with this comes increased risk and responsibility for both employer and employee.With this in mind, we have set out to investigate what support is available in the workplace to ...
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OpinionCrowley Woodford: Take stock of benefits strategies in light of upcoming changes
Employee benefit offerings come in all shapes and sizes. At one end of the spectrum, there are the traditional employee benefits such as contributions to an employee's pension scheme, childcare vouchers, and subsidised gym membership, and at the other end there are wine clubs, unlimited holiday allowances, and free-bacon Thursdays.With ...
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ArticleHoover pension proposal receives regulatory approval
The Pensions Regulator (TPR) has approved a regulated apportionment arrangement (RAA) for appliance retail organisation Hoover's pension scheme.The proposal will see Hoover pay £60 million into the Hoover (1987) Pension Scheme (HPS). The scheme will also gain ordinary shares in Hoover, representing a 33% stake.The pension scheme, which has 5,319 ...
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ArticleFTSE 350 defined benefit pension deficit falls to £134bn
The accounting deficit of defined benefit (DB) pension schemes for the UK’s largest 350 organisations fell from £145 billion at the end of April 2017 to £134 billion at 31 May 2017, according to research by Mercer.Its Pensions risk survey, which is based on projections and analysis of FTSE 350 ...
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ArticleNuclear Decommissioning Authority staff to vote on pensions deal
Nuclear Decommissioning Authority (NDA) employees who are members of trade unions GMB and Unite are to vote on proposals to replace the government organisation’s current final salary pension scheme with a career average revalued earnings (CARE) arrangement.The consultative ballot will open on Monday 12 June 2017 and close on Friday ...
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ArticleEon to consider closing its defined benefit pension schemes to future accrual
Energy organisation Eon will potentially close its defined benefit (DB) pension schemes to future accrual, which could affect around 3,000 UK-based employees.The organisation is considering the pension scheme closures as part of a review into its final salary and DB arrangements.Eon closed various DB pension plans to new employees by ...
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Case StudiesRolls-Royce merges final salary schemes to reduce governance costs
Luxury car manufacturing organisation Rolls-Royce conducted a pensions change project over 2016 in order to reduce the extensive governance costs of running five defined benefit (DB) pension schemes concurrently.At the beginning of 2016, the organisation had five legacy final salary pension arrangements in place, covering 13,000 current employees. This included ...
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OpinionSarah Miller: Key considerations for a pensions change project
There are three questions employers should ask before embarking on a pensions change project. First, they should question whether they can make the change. Employment contracts should be checked. If the change would breach the contract it will need varying. If the contract does not permit variations,the employer might need ...
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AnalysisHow to effectively manage pensions change in an organisation
Need to know:Reasons for pension change projects can vary, for example, an organisation may wish to reduce the costs of its current scheme, or lower the risks involved.Setting corporate objectives around what the organisation wants to achieve with its pension scheme is the first step when deciding on the most ...
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ArticleEXCLUSIVE: Royal Academy of Arts sees 51% of staff engage with pensions online
Copyright: Fraser MarrEXCLUSIVE: Royal Academy of Arts has seen 51% of its employees register to view their pension online following the launch of a new pension scheme and workplace savings platform.The charity launched a group self-invested personal pension (Sipp) and introduced the Corporate Vantage workplace savings platform, provided by Hargreaves ...
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ArticleBritish Airways granted leave to appeal in pensions case
British Airways (BA) has been granted leave to appeal a High Court ruling that found in favour of the Airways Pension Scheme (APS) trustees' power and decision to award discretionary pension increases.In the case of British Airways v Airways Pension Scheme Trustee, the airline disputed the trustees’ decision to amend ...
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Supplier article
Top things employees should consider when planning for retirement
WEALTH at work, a leading provider of financial education, guidance and advice in the workplace, outlines below some of the top things employees should consider when planning for their retirement.How much income will employees need in retirement?One key thing which many don’t realise is that they are unlikely to need ...
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Article62% manage auto-enrolment administration in-house
Almost two-thirds (62%) of employer respondents manage the administration of pensions auto-enrolment in-house, according to research by Chase de Vere and Lightbulb.The research, which surveyed 300 senior HR decision makers in the UK, also found that more than a third (37%) of respondents cite administration as the biggest challenge to ...